Practical Management Science, Loose-leaf Version
Practical Management Science, Loose-leaf Version
5th Edition
ISBN: 9781305631540
Author: WINSTON, Wayne L.; Albright, S. Christian
Publisher: Cengage Learning
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Chapter 12.5, Problem 20P

a)

Summary Introduction

To show: The way the probability can be calculated.

Inventory and supply chain models:

The functions of inventory and supply chain are one of the most important business decision areas for an organization. The first important aspect of these concepts is to have adequate inventory on hand. The second important aspect is to carry a little amount of inventory as possible.

b)

Summary Introduction

To calculate: The optimal reorder point and safety stock level.

c)

Summary Introduction

To identify: The model 4 service level constraint to which $100 stockout cost is equivalent to.

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